"I can't express my appreciation enough," Shaw told The Denver Post by phone Monday evening. "It's been a grind to say the least, but I'm just very appreciative of the opportunity to lead this team. ... It's been years, 11-12 interviews I've gone through. And I've felt I've been prepared by the best of the best. You know, everything that's worth something, a lot of times you have to wait for it. I feel like I've waited and paid my dues.

"I feel honored and privileged that (Nuggets executives) Josh (Kroenke) and Tim (Connelly) have put faith in me that I'm the guy they want to grow with going forward."

The Indiana Pacers assistant coach and former Phil Jackson pupil will finally get a crack at being a head coach, taking over for George Karl, who was fired earlier this month.

Shaw has agreed to take over a team that won 57 games last season and is loaded with young talent. Lionel Hollins, the former Memphis Grizzlies coach, was Denver's other top candidate for the position.

Shaw, 47, has a reputation as being a players' coach and a player developer, notably with rising star Paul George, the Pacers forward who was an all-star in 2012-13. Shaw is adept at coaching the triangle offense, which Jackson utilized while coaching the Chicago Bulls and Los Angeles Lakers, but Shaw said he won't use the offensive set with a team that thrived in a fast-paced, free-flowing system under Karl.